Regulatory Alerts2018-03-22
Added · Updated
Guide to Enhanced Competency Framework on Anti-Money Laundering and Counter-Financing of Terrorism
The Hong Kong Monetary Authority issued this guide to establish the Enhanced Competency Framework on AML/CFT, encouraging authorized institutions to adopt it as a benchmark for assessing and developing the skills of AML/CFT practitioners. The framework defines a two-tier qualification structure comprising Core and Professional levels, with certification administered by the Hong Kong Institute of Bankers through accredited training and examinations. It mandates annual continuing professional development requirements and outlines specific grandfathering and exemption pathways for existing staff to ensure a sustainable talent pool for Hong Kong's financial sector.
Topics
Share